PROJ01958 ‎(2)‎

• Contract/PO #: C150131A
• Contractor Name: Paonia, Town of
• Contract Type: Loan
• Water District: 0
• Loan Projects - Doc Type: Approval Letter

Colorado Water Conservation Board

Department of Natural Resources

131 3 Sherman Street
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]

STATE OF COLC)MDO

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MEMORANDUM

Bill Owens
Governor

Greg E, Walcher
Executive Director, DNR

Peter H, Evans
Director, CWCB

TO:

Colorado Water Conservation Board Members

Mike Serlet, P.E., Chief, Water Supply Planning and Finance Sec';on UJj
Bill Green, P.E., Water Supply Planning and Finance Section ~/...
John Van Sciver, P.E., Water Supply Planning and Finance Section -.:J7AJLb

FROM:

DATE:

November 16, 1999

SUBJECT:

Agenda Item 10a-k - November 22-23, 1999, Board Meeting
Water Supply Planning and Finance
Loan De-authorization Review

Introduction

In September of this year, the Board adopted Board Policy #1, Construction Fund and Severance
Tax Perpetual Base Account Project Time Limits, which policy provides thefollowing direction:

The Colorado Water Conservation Board (CWCB) shall review the status of all
Construction Fund and Severance Tax Perpetual Base Account loan projects that do not
have a fully executed CWCB funding contract within three years of the project's
legislative authorization. These projects may be recommended for inclusion in the list of
Project Loan De-Authorizations in the next annual Construction Fund Bill lmless the
Board specifically approves a time extension.

The Policy further outlines the basis for staff recommendations:

1. If the Project Sponsors have not shown diligence toward execution of a funding
contract within three years of their authorizing legislation, the staff will recommend
to the Board that the project be included in the Project Loan De-Authorization
recommendation to the Legislature.

2. If the Project Sponsors have progressed towards execution of a project funding
contract, but the progress has been delayed due to extenuating circumstances, the
staff may recommend that the Board extend the project time limit for one year. The
staff will continue to review the project on an annual basis until a CWCB funding
contract is fully executed or the Board has recommended de-authorization to the
Legislature.